Dennis Jansen Shares Current & Future Economic Health With College of Liberal Arts

Nov 20, 2020
Summary: Dennis Jansen was recently interviewed for a blog post by Texas A&M University’s College of Liberal Arts on today’s economic climate and forecasts for the future.

In a normal year, College Station-Bryan would be in the middle of the fall semester and football season, which is normally the busiest time of year for travel, hotels, and entertainment. With the current ongoing pandemic, less visitors are heading to Aggieland.

“When a semester is going on, hotel receipts are high. We have events: Parent’s Day, Ring Day, a whole bunch of other things happening. In the fall, those numbers go up even higher because we have football season, and on those football weekends the hotels around Bryan-College Station are full. Things are much different this year; the numbers are way lower,” said Jansen.

Taxable sales, another economic indicator, dropped precipitously in March, which doesn’t bode well for the entities that rely on those taxes. “Bryan and College Station’s city governments rely on sales taxes, as does the Texas government. This affects Texas A&M’s budget, school teachers’ budgets, and all kinds of government-funded entities throughout the state,” Jansen stated. “The State Legislature is meeting in the spring and they’ll be looking at forecasts of lower tax revenues, including sales tax revenues. This is happening all over the state of Texas.”

Looking ahead, the road to a full recovery may be a long one. “In terms of the economy returning to what it was back in January, to pre-COVID, until we have a safe and effective vaccine that is able to be widely taken, we are going to be a long time recovering from this,” Jansen stated. “I believe that some of these forecasts you see may be a bit too pessimistic, but it’s not ending soon.”
 
Read the full blog post “Forecasting the Economy in a Post COVID World” here.

To read more on the health of the local economy in the College Station-Bryan metro area, click here.